GeoPark Raises Production to 27,973 Barrels of Oil Equivalent per Day as Colombia Holds Steady
Key Facts
GeoPark said its average combined production reached 27,973 barrels of oil equivalent per day in the third quarter of 2026, up 2.6% from the second quarter, according to a filing with the U.S. Securities and Exchange Commission. The increase in total output came as production in Colombia remained nearly steady, highlighting the contrast between the company’s Colombian base and other sources of growth. Colombia produced 25,865 barrels of oil equivalent per day, compared with 25,871 in the previous quarter. On an annual basis, the country’s output was below the 26,208 barrels of oil equivalent per day recorded in the third quarter of 2025. The company said improved combined production was supported by performance in its Colombian operations, along with the start-up of a new facility in Argentina.
GeoPark attributed its performance to resilient operations at the Llanos 123, Platanillo and CPO-5 blocks in Colombia, and the start-up of Pad 1030 at the Loma Jarillosa Este block in Argentina’s Vaca Muerta basin. The filing indicates that these operations contributed at a time when Colombia’s total production remained close to its second-quarter level. At the Llanos 34 block, average net production was 15,393 barrels of oil equivalent per day, compared with 15,697 in the previous quarter. Water-injection projects at the block contributed total production of 6,745 barrels of oil equivalent per day, equivalent to 19.7% of its total output. The company said the injection projects continued to deliver strong results during the quarter, supporting block production despite a decline in its average net output from the previous quarter.
In its polymer-injection program, GeoPark said it was injecting in four patterns during the third quarter, with additional patterns expected to be introduced before year-end. This reflects the company’s continued expansion of injection technologies across its Colombian operations, alongside its reliance on the resilience of existing blocks. The company operated 8 rigs, including 3 drilling rigs and 5 workover rigs, according to the operational update. It also completed drilling 8 wells in Colombia during the period. In Argentina, 5 wells were fractured and brought into production, in a development consistent with the start-up of Pad 1030 in Vaca Muerta.
Third-quarter figures put combined production below the 28,136 barrels of oil equivalent per day recorded in the third quarter of 2025, despite an increase from the second quarter of 2026. In its guidance, GeoPark is targeting production of between 27,000 and 30,000 barrels of oil equivalent per day in 2026, with capital spending of between $190 million and $220 million. The company’s targets extend to production of between 32,000 and 34,000 barrels of oil equivalent per day in 2027, then between 44,000 and 46,000 in 2028. These levels correspond to capital spending plans of between $280 million and $310 million in 2027, and between $350 million and $380 million in 2028. The guidance provides a framework for comparing actual production with announced expansion plans as the company combines its Colombian operations with growth in Argentina.
The company previously reported that second-quarter 2026 revenue rose 12% from the first quarter to $143.3 million, while adjusted earnings before interest, taxes, depreciation and amortization were $73.1 million. In that quarter, Brent averaged $96.9 a barrel, and the combined realized price rose to $67.2 a barrel from $60.4 in the first quarter. This financial context provides background on the previous period, while the available evidence did not include third-quarter financial figures. The stock closed at $10.38 on Nov. 2, according to EL7 data, after closing at $11.2 on Oct. 27. GeoPark scheduled a call to discuss its third-quarter financial results for 4 November 2026 at 8:00 a.m. Eastern Time, and said it is targeting completion of its entry into Venezuela’s Bare block by the end of the fourth quarter, subject to completing contractual milestones and operational and commercial preparations.